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Tranny Fluid blowing out

HELP!!!!!!
I have a 1990 Sea Ray 350 with twin 454s. The trannies are H(hurst).
Herin is my problem. The trannies shift excellent. The port one all this year blows tranny fluid out what appears to be a small pressure type valve at the top of the tranny. It's a silver colored thing that will move a bit when you grab it and move it around.
Talked to a boat guy in Sandusky Oh and he said run the tranny at just a bit below the full mark. He said that tranny is a work horse and it really doesn't build up that much pressure. Perhaps the little pressure thingy is bad?
What could cause this tranny to spew fluid out? And ideas.?
The boat only has 752 hours on her.
HELP PLEASE!!!!!!!
Mercruiser built by Hurth-West Germany Ratio 1:55 : 1
Both dip sticks are the same size. And it is not over filled.

Thanks
Gator
 
did you try the suggestion offerred?

your description leaves much to be desired...do you check the fluid warm or cold? it could also be the vent cap....
 
Sorry. I stated the tranny fluid was coming out of the relief/pressure valve on the top of the tranny when I drive it. Only one of the two engines. The tranny affected shifts just fine. Trannies are always checked after the fluid is warmed up. At least that's how I always have done it. Never saw one that gets checked cold, but I guess that is possible. Sea Ray says warm. You mention vent cap. Do you mean the one I tried to describe? The pressure one? Small silver on the top of the tranny. Feels almost spring loaded.
I did check the filter and it is clean and un blocked.
Thanks Hope this might clear up the description thing.
 
The vent cap - spring loaded cap thing - they can leak (weep) if the sealing surface corrodes....you can try swapping it between the gears to see if the leak goes with the cap...if it does, just replace the bad one...
 
Hey, sorry about the delay getting back to you. Boat was hauled and I took off to Florida for a couple of months. back in ohio now. Before I spring launch I will swap them out and cross my fingers that the tranny isn't slipping or bad. If it is, any idea if a rebuild is like gonna bank rupt me?
Gator
 
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